Integration With Social Security
Definition of "Integration with social security"
Method of reducing an employee pension according to IRS procedures:
- Offset method restricted to a DEFINED BENEFIT PLAN under which a mandatory percentage of the monthly Social Security benefit payable to a retired employee is subtracted from the monthly retirement benefit payable to the employee under a business firm's qualified retirement plan.
- Integration method-used with a defined benefit plan or a defined contribution plan under which a basic level of compensation established for a retired employee so that (a) for compensation above this level, the employee receives a greater retirement benefit; or (b) for compensation below this level, the employee receives a smaller retirement benefit.
Popular Insurance Terms
Annual contributions to a pension plan that exceed or are smaller than the minimum required for future employee benefits currently being earned; and any supplemental liability for past ...
Combination of the funds of many policyholders held in a single account and invested as a single entity. ...
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Cash carried forward from the previous year, plus gains from operations for the current year, plus any capital gains. ...
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Time at which life insurance death proceeds or endowments are paid, either at the death of an insured or at the end of the endowment period. ...
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